DEO VOLENTE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DEO VOLENTE
Largest movements
- Receivables within one year +€348,979
up €348,979 (+2,172%), from €16,070 to €365,048
of which Other amounts receivable: +€351,313
- Cash -€284,442
down €284,442 (-70.1%), from €405,483 to €121,042
mainly Receivables within one year (-€348,979) and Tax, wage and social debts (-€29,589)
- Tangible fixed assets -€40,235
down €40,235 (-2.3%), from €1.7m to €1.7m
of which Other tangible fixed assets: -€79,423
- Reserves +€58,206
up €58,206 (+4.2%), from €1.4m to €1.5m
of which Distributable reserves: +€82,226
- Other debts +€45,307
up €45,307 (+11.3%), from €400,486 to €445,793
- Tax, wage and social debts -€29,589
down €29,589 (-35.6%), from €83,086 to €53,496
of which Taxes: -€15,189
- Debts after one year -€28,063
down €28,063 (-24.1%), from €116,525 to €88,462
- Gross operating margin -€347,171
down €347,171 (-64.9%), from €535,087 to €187,917
- Taxes -€236,356
down €236,356 (-84.4%), from €279,917 to €43,561
- Write-downs +€8,572
new in 2026: €8,572
- Other operating charges -€5,438
down €5,438 (-41.2%), from €13,188 to €7,751
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,261,349 | €2,288,890 | +€27,540 | +1.2% |
| Fixed assets | 21/28 | €1,712,800 | €1,672,565 | -€40,235 | -2.3% |
| Tangible fixed assets | 22/27 | €1,712,800 | €1,672,565 | -€40,235 | -2.3% |
| Land and buildings | 22 | €1,633,377 | €1,672,565 | +€39,189 | +2.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €79,423 | €0 | -€79,423 | -100% |
| Current assets | 29/58 | €548,549 | €616,324 | +€67,775 | +12.4% |
| Amounts receivable after more than one year | 29 | €126,730 | €128,800 | +€2,070 | +1.6% |
| Other amounts receivable | 291 | €126,730 | €128,800 | +€2,070 | +1.6% |
| Amounts receivable within one year | 40/41 | €16,070 | €365,048 | +€348,979 | +2,172% |
| Trade receivables | 40 | €16,070 | €13,736 | -€2,334 | -14.5% |
| Other amounts receivable | 41 | €0 | €351,313 | +€351,313 | |
| Cash at bank and in hand | 54/58 | €405,483 | €121,042 | -€284,442 | -70.1% |
| Deferred charges and accrued income | 490/1 | €266 | €1,434 | +€1,168 | +439% |
| Total equity and liabilities | 10/49 | €2,261,349 | €2,288,890 | +€27,540 | +1.2% |
| Equity | 10/15 | €1,434,211 | €1,492,417 | +€58,206 | +4.1% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €1,399,211 | €1,457,417 | +€58,206 | +4.2% |
| Non-distributable reserves | 130/1 | €3,026 | €3,026 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,026 | €3,026 | = | 0.0% |
| Tax-exempt reserves | 132 | €550,344 | €526,324 | -€24,020 | -4.4% |
| Distributable reserves | 133 | €845,841 | €928,067 | +€82,226 | +9.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €183,448 | €175,441 | -€8,007 | -4.4% |
| Deferred taxes | 168 | €183,448 | €175,441 | -€8,007 | -4.4% |
| Amounts payable | 17/49 | €643,691 | €621,032 | -€22,659 | -3.5% |
| Amounts payable after more than one year | 17 | €116,525 | €88,462 | -€28,063 | -24.1% |
| Financial debts | 170/4 | €116,525 | €88,462 | -€28,063 | -24.1% |
| Amounts payable within one year | 42/48 | €527,166 | €530,978 | +€3,812 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €27,682 | €28,063 | +€381 | +1.4% |
| Trade debts | 44 | €15,912 | €3,626 | -€12,286 | -77.2% |
| Suppliers | 440/4 | €15,912 | €3,626 | -€12,286 | -77.2% |
| Taxes, remuneration and social security | 45 | €83,086 | €53,496 | -€29,589 | -35.6% |
| Taxes | 450/3 | €68,686 | €53,496 | -€15,189 | -22.1% |
| Remuneration and social security | 454/9 | €14,400 | €0 | -€14,400 | -100% |
| Other amounts payable | 47/48 | €400,486 | €445,793 | +€45,307 | +11.3% |
| Accrued charges and deferred income | 492/3 | - | €1,592 | +€1,592 | |
| Non-recurring operating income | 76A | €451,686 | €0 | -€451,686 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,924 | €54,783 | +€2,859 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,572 | +€8,572 | |
| Other operating charges | 640/8 | €13,188 | €7,751 | -€5,438 | -41.2% |
| Gross operating margin | 9900 | €535,087 | €187,917 | -€347,171 | -64.9% |
| Operating profit (loss) | 9901 | €469,975 | €116,812 | -€353,163 | -75.1% |
| Financial income | 75/76B | €9,700 | €6,983 | -€2,717 | -28.0% |
| Recurring financial income | 75 | €9,700 | €6,983 | -€2,717 | -28.0% |
| Financial charges | 65/66B | €25,539 | €30,035 | +€4,496 | +17.6% |
| Recurring financial charges | 65 | €25,539 | €30,035 | +€4,496 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €454,136 | €93,760 | -€360,377 | -79.4% |
| Transfer from deferred taxes | 780 | €105,681 | €8,007 | -€97,675 | -92.4% |
| Income taxes | 67/77 | €279,917 | €43,561 | -€236,356 | -84.4% |
| Profit (loss) for the period | 9904 | €279,901 | €58,206 | -€221,695 | -79.2% |
| Transfer from tax-exempt reserves | 789 | €317,044 | €24,020 | -€293,024 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €596,944 | €82,226 | -€514,718 | -86.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.